Polestar Shares Rise in Electric-Vehicle Maker’s Market Debut

Electric-vehicle startups such as Rivian, Lucid, Fisker, Canoo and Lordstown are having to adjust to the realities of making vehicles in a harsh economy. WSJ’s George Downs explains some of the challenges they face and why some even risk going out of business. Photo composite: George Downs

Shares in Polestar Automotive Holding UK PLC jumped 16% on their first day of trading Friday, after the Swedish electric-vehicle maker completed a merger with a special-purpose acquisition company amid plans to expand globally.

Polestar by blank-check company Gores Guggenheim in September. The auto maker is a unit of Volvo Car which in turn is owned by Zhejiang Geely Holding Group Co. of China.